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Lemon Tree Hotels gains after debut in Udaipur

Capital Market 

Lemon Tree Hotels advanced 1.59% to Rs 60.75 after the company said it entered into Udaipur, with the launch of new 139 rooms upscale hotel, 'Aurika, Udaipur'.

This is the fifth hotel of the company in Rajasthan, with hotels already present in Jaipur, Alwar and Bhiwadi.

The strategic location of the hotel places it in close proximity to major sightseeing destinations in the city, including City Palace, Jagmandir, Saheliyon ki Bari, Bagore ki Haveli, Jagdish Temple and the Vintage Car Museum, amongst others.

The opening of this hotel marks the launch of the first hotel under the new brand, Aurika Hotels & Resorts. The announcement was made after trading hours yesterday, 29 October 2019.

Meanwhile, the S&P BSE Sensex was up 206 points or 0.52% to 40,038.04.

On the BSE, 44,973 shares were traded in the counter so far compared with average daily volumes of 19,215 shares in the past two weeks. The stock hit an intraday high of Rs 62.80 and an intraday low of Rs 60.50 so far during the day.

The stock hit a 52-week high of Rs 90.90 on 2 April 2019. The stock hit a 52-week low of Rs 48 on 13 August 2019.

On a consolidated basis, Lemon Tree Hotels reported a net loss of Rs 1.67 crore in Q1 June 2019 compared with a net profit of Rs 2.29 crore in Q1 June 2018. Net sales climbed 11% to Rs 140.93 crore in Q1 June 2019 over Q1 June 2018.

Lemon Tree Hotels operates a chain of upscale business and leisure hotels. The firm designs, builds, owns and operates its hotels.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 30 2019. 15:12 IST